House property
This query is : Resolved
12 July 2013
My friend purchased a property in Greater Noida under assured income scheme in joint name with her Husband. Loan was however in her name alone.
Under the scheme she had to pay approx 20 Lakhs and would get Rs.14000 per month. She has now come under 30% tax bracket due to the assured income but her Husband's 26AS does not reflect any property purchased so no extra tax on him.
Please advise if income can be divided amongst the two...to avoid more tax burden on one of them.
Thanks and best regards....B
Under the scheme she had to pay approx 20 Lakhs and would get Rs.14000 per month. She has now come under 30% tax bracket due to the assured income but her Husband's 26AS does not reflect any property purchased so no extra tax on him.
Please advise if income can be divided amongst the two...to avoid more tax burden on one of them.
Thanks and best regards....B
18 July 2013
No. you cannot do that, it will be treated as diversion of income
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Section 50-fixed asset-->building ceases to exist
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Putting a heading on received mail
- Reprocessing of rectification order AY 2025-26
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regarding Applicability of Tax Audit u/s 44AB
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
